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Safaricom's M-Shwari raise minimum loan size to KES 2,000

Wednesday 12 August 2020 | 09:32 CET | News
Kenyan operator Safaricom and NCBA (formerly the Commercial Bank of Africa) have raised the minimum loan size on mobile lending platform M-Shwari by four times from KES 500 to KES 2,000, to reduce defaults in particular by borrowers taking smaller amounts, Business Daily reported. Those who do not qualify to borrow at least KES 2,000 through the monthly loan product have been relegated to using the daily overdraft service, Fuliza, which is more expensive but structured to lower defaults.

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Categories: Mobile & Wireless
Companies: Safaricom
Countries: Kenya
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